The Brief
- Diesel prices at a Dallas truck stop along Interstate 20 were nearly $6 a gallon on Labor Day—putting a severe strain on truck drivers and the broader supply chain.
- Fuel costs have surged 60% this year over the last seven to eight months, driven largely by the war with Iran and the blockage in the Strait of Hormuz.
- Economists warn that higher transportation and agricultural fuel costs are driving up shipping and food prices, with relief unlikely in the near future even if hostilities end immediately.
DALLAS – Diesel fuel at a truck stop along Interstate 20 in Dallas on Labor Day reached nearly $6 a gallon. For truck drivers, that means paying nearly $1,000 to fill up the tank. And for consumers, it means higher shipping and food costs.
High fuel prices strain truckers, drivers
What we know:
Diesel fuel prices have climbed 60% over the past seven to eight months. The sharp increase directly impacts truck drivers, who say the high costs eat away at their earnings while shipping rates remain low.
Much of the price increase is attributed to the war with Iran and the blockage in the Strait of Hormuz, a critical waterway for global oil transport.…